Kraken Robotics Inc. (CVE:PNG) Given Consensus Rating of "Buy" by Analysts

Key Points

• Kraken Robotics Inc. has received a consensus recommendation of "Buy" from six brokerages, with three issuing a buy rating and two a strong buy rating.
• The average 1-year price target among analysts for Kraken Robotics is C$4.10, with descriptions of recent upgrades from various brokerages raising their target prices up to C$5.00.
• Shares of Kraken Robotics increased by 6.6%, with a current trading price of C$5.95 and a market capitalization of C$1.82 billion.

Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) have been given a consensus recommendation of "Buy" by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$4.10.

A number of brokerages recently commented on PNG. Desjardins raised their target price on Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Canaccord Genuity Group downgraded Kraken Robotics from a "strong-buy" rating to a "hold" rating and raised their price objective for the stock from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Raymond James Financial raised their price objective on Kraken Robotics from C$3.50 to C$4.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. National Bankshares raised their price objective on Kraken Robotics from C$4.00 to C$5.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. Finally, Scotiabank upgraded shares of Kraken Robotics to a "strong-buy" rating in a research note on Thursday, August 14th.

Kraken Robotics Stock Up 6.6%

PNG opened at C$5.95 on Wednesday. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. Kraken Robotics has a 1-year low of C$1.60 and a 1-year high of C$6.49. The company has a market capitalization of C$1.82 billion, a PE ratio of 85.00 and a beta of 1.23. The firm's 50 day simple moving average is C$3.94 and its two-hundred day simple moving average is C$3.13.

Kraken Robotics Company Profile

Kraken Robotics Inc, a marine technology company, engages in the design, manufacture, and sale of sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications in Canada, the Asia Pacific, Europe, the Middle East, Africa, North America, and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.